Marqeta slumps after dour Q4 revenue growth forecast

Marqeta

04/11/2024 22:52

** Shares of card issuer Marqeta  MQ.O  slide 31.6% to $4.07
after the bell
    ** MQ forecasts Q4 net revenue growth to be between 10% to
12%, compared with Wall Street expectations of 17.4% - LSEG data
    ** Q4 outlook reflects several changes that became apparent
over the last few months with regards to the heightened scrutiny
of the banking environment and specific customer program changes
- MQ
    ** Meanwhile, Q3 net loss narrowed to $28.6 mln from $55 mln
a year earlier 
    ** As of last close, MQ shares down 15% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))